Short Term Vacation Rentals in Phoenix?
I live in Green Bay, WI and recently visited Phoenix and absolutely loved it. I've been thinking of getting into short term vacation rentals for awhile now and this seems like the perfect opportunity. I am in talks with Turnkey Vacation Rentals and everything sounds great.
The one thing I can't find is examples of other people who are using a company like Turnkey and what their returns are? Say if I put $50k down on a $200k house what could I reasonably expect for a return? Is it reasonable for me to expect say $3k/mo. in gross rents then after their 18% fee and the mortgage and a typical month of expenses to cash flow say $200/mo.?
If you have any experience with short term vacation rentals (self manage or having a property management company like Turnkey run it) I would love to see your numbers and if this would be a good investment for me in the Phoenix area.